Crypto Market Surges to $2.38T as Trump Signals Iran De-Escalation

The cryptocurrency market has surged to $2.38 trillion in value, a 2.5% increase over the past 24 hours.

This uptick is largely driven by a decrease in geopolitical risk following US President Trump's comments that the military phase in Iran was 'very complete, pretty much,' suggesting the conflict could soon be over.

The relief move has seen markets interpret this as reducing tail risks, leading to a broad 'peace trade' bounce across risk assets, including crypto.

Major Layer 1 assets like Ethereum have also experienced a technical rebound, amplified by rotation into high-beta sectors such as Perp DEX coins, which saw an 8.94% surge led by Hyperliquid ($HYPE).